Europe WiGig Market Outlook 2031:
The Europe WiGig market size was valued at USD 867.70 Million in 2022 and is projected to reach USD 4.34 Billion by 2031, expanding at a CAGR of 19.6% during the forecast period 2023 - 2031. Growth of the market is attributed to increasing demand for high-speed connectivity, rising internet activity, increasing number of video streaming, and rapidly emerging economies.
The 60 GHz wireless network systems refer to a WiGig, which is also called as wi-fi at 60 GHz. The 802.11ay and the IEEE 802.11ad standards are fitted in the WiGig. Devices can communicate at multi gigabit speeds without using cables cause of WiGig specifications. For smartphones and home theater equipment the WiGig is designed for cable replacement using the unlicensed 60 GHz band.
In noisy environment the WiGig throttles down to wi-fi speed but also give more bandwidth than wi-fi and provides 7 Gbps data rate. It can transmit up to 60 feet when there is no obstruction in the signal.
The covid-19 outbreak was not able to affect the WiGig enterprises. The Europe WiGig market players faced several problems varying from getting component require to develop home appliances and providing end products to attracting workers from quarantines.
The coronavirus-driven confinement places a brake on the element and WiGig production, which increased product costs and reduced the market demand. However, the WiGig devices trade is returning to traditional and witnessing the steady increasing energy demand, particularly from the commercial sector.
Europe WiGig Market Trends, Drivers, Restraints, and Opportunities
- Rising adoption of high-resolution videos is projected to boost the market in the coming years.
- Technological advancement in the communication sectors is major factor fueling the market during the forecast period.
- Increasing chipset manufacturing cost is anticipated to hamper the market growth.
- High maintenance cost is projected to hamper the market growth in the coming years.
- R&D investment and technological advancement in WiGig is projected to create lucrative opportunities for the market players.
Scope of the Europe WiGig Market Report
The report on the Europe WiGig market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Europe WiGig Market–Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016-2021
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Forecast Period
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2023-2031
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Segmentation
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Products (Network Infrastructure Devices and Display Devices??), Applications (Networking, Gaming & Multimedia?, and Others)
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Geographical Scope
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Italy, Spain, Netherlands, Poland, Germany, France, United Kingdom, and Rest of the Europe
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players covered in the Report
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HP Development Company LP; Dell Technologies Inc.; Panasonic Corp.; Sivers Ima Holding AB; Blu Wireless Technology Ltd.; Intel Corp.; Fujikura Ltd; Qualcomm Technologies Inc.; Broadcom Inc.; Cisco Systems Inc.; and Lenovo Group Ltd.
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Europe WiGig Market Segment Insights
The network infrastructure devices segment accounts for key share of the market
Based on products, the Europe WiGig market is bifurcated into network infrastructure devices and display devices. The network infrastructure devices segment accounts for a key share of the market. Growth of the market is attributed to increasing quality of video streaming, increasing per capita income, and well-developed infrastructure.
The display devices segment is anticipated to expand at a rapid pace during the forecast period due to factors such as penetration of broad brands & smartphones, rising investment by government & private sectors, and rapid development in 5G sector.
The networking segment accounts for major share of the market
On the basis of applications, the market is fragmented into networking, gaming & multimedia, and others. The networking segment accounts for major share of the market. Growth of the market is attributed to increasing adoption of over-the top content and rising need for fast data transfer.
However, the gaming & multimedia segment is anticipated to expand at a rapid pace during the forecast period due to factors such as virtually interference free & highly secure operations and presence of major number of key players.
United Kingdom is estimated to hold a major market share
On the basis of geography, the Europe WiGig market is categorized as Italy, Spain, Netherlands, Poland, Germany, France, United Kingdom, and Rest of the Europe. The market of France is anticipated to expand at a high CAGR during the forecast period due to increasing number of research & development procedures, data transfer at high rate, and good return on investment.
The market of United Kingdom is estimated to hold major market share due to increasingly opting for wireless & technologically advanced products, increasing adoption of work from home model, and rising need for devices with high data throughput.
Segments
The Europe WiGig market has been segmented on the basis of
Products
- Network Infrastructure Devices
- Display Devices
Applications
- Networking
- Gaming & Multimedia
- Others
Geography
- Italy
- Spain
- Netherlands
- Poland
- Germany
- France
- United Kingdom
- Rest of the Europe
Key Players
- HP Development Company LP
- Dell Technologies Inc.
- Panasonic Corp.
- Sivers Ima Holding AB
- Blu Wireless Technology Ltd.
- Intel Corp.
- Fujikura Ltd
- Qualcomm Technologies Inc.
- Broadcom Inc.
- Cisco Systems Inc.
- Lenovo Group Ltd.
Competitive Landscape
Key players competing in the Europe WiGig market include HP Development Company LP; Dell Technologies Inc.; Panasonic Corp.; Sivers Ima Holding AB; Blu Wireless Technology Ltd.; Intel Corp.; Fujikura Ltd; Qualcomm Technologies Inc.; Broadcom Inc.; Cisco Systems Inc.; and Lenovo Group Ltd.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and raise their production line of the business in the coming years.
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